Last Updated on January 25, 2022 by Jayprakash Prajapati
Hi, an entrepreneur is a person who is motivated to fulfill a high requirement of achievement in innovative and creative activities. Their creative behavior and innovative spirit that make up an endless chain of the process are called entrepreneurship.
What is the difference between managers and entrepreneurs?
Creating the process is not enough for the entrepreneur, but an equally important task for him is to manage the business. He does a managerial function from an entrepreneurial point of view.
The entrepreneur enters a transitional state in which initially the transition from an entrepreneurial to management with innovation becomes a routine for him. It also emphasized insights and involvement with people through techniques and analytical methods.
The entrepreneur considers and exploits the opportunity, and the subsequent steps required for the organization are appropriate for management.
Entrepreneur differs from a professional manager Undertakes an undertaking for his personal satisfaction. As such it cannot remain within the framework of professional behavior set by others.
He can engage a professional manager to perform some of his tasks. Such as objectives, policies, procedures, rules, strategies, establishment of formal communication networks. However, entrepreneurial work of innovation, perception of business risk, and commitment to their vision cannot be delegated to the professional manager. For a professional executive, failure can mean little.
Probably more than locating a new job even at a higher salary, while the failure of an entrepreneur in his efforts would be a devastating loss to his career. The professional manager has to work within the framework of policy guidelines set by the entrepreneur.
This distinction between the entrepreneur and the professional (traditional) manager is presented in Table I.
Entrepreneur Vs Managers – Table
|1.||Primary Motives||Want promotion and traditional corporate rewards. Power-motivated.||Wants freedom, goal-oriented Self-reliant, and self-motivated.|
|2.||Time Orientation||Respond to quotas and Budgets, weekly, monthly, quarterly, annual planning horizons, the next promotion or transfer. next step along the way.||End goals of 5-10 year growth of business in view as guides. Takes action now to move the|
|3.||Action||Delegate action. Supervising and reporting take most of the energy from their work.||Gets hands dirty. May upset employees by suddenly doing|
|4.||Skills||Professional training. Often business school trained. Abstract analytical tools, people-management, and political skills. trained if in technical business.||Knows business intimately. More business acumen than managerial or political skill. Often technically.|
|5.||Courage and Destiny||Sees others in charge of his or her destiny. Can be forceful and ambitious, but may be fearful of others’ ability in case of optimism.||Self-confident, optimistic, courageous.|
|6.||Attention||Primly on events inside a corporation.||Primarily on technology and market place.|
|7.||Market Research||Have market studies been done to discover needs and guide product conceptualization?||Creates needs. Creates products that often can’t be tested with market research-potential customers who don’t yet understand them. Talks to customers and forms own opinions.|
|8.||Status||Cares about status symbols. if the job is getting done.||Happy sitting on an orange crate|
|9.||Failure and Mistakes||Strives to avoid mistakes and surprises. Postpones recognizing failure.||Deals with mistakes and failures as learning experiences.|
|10.||Decisions||Agrees with those in power. Delays decision until he gets a feel of what bosses to want.||Follows a private vision. Decisive and action-oriented.|
|11.||Who they Serve||Please others.||Pleases self and customers.|
|12.||Attitude Toward the system||Sees system as nurturing and protective, seeks position within it.||May rapidly advance in a system, when frustrated; reject the system and form his or her own.|
|13.||Problem-solving Style||Works out problems within the system.||Escapes problems in large and formal structures by leaving and starting over his own.|
|14.||Family History||Family members worked for large organizations.||Entrepreneurial small-business, professional, or agricultural background.|
|15.||Risk||Careful||Like moderate risk. Invests heavily, but expects to succeed.|
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